A road to build a dream on

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THE Cape At­lantic seaboard’s Bantry Bay, more specif­i­cally Ravine Road, has al­ways been one of the most sought-af­ter roads on the At­lantic Seaboard, says Lance Co­hen of Se­eff Prop­er­ties.

He says that Bantry Bay is so pop­u­lar be­cause it epit­o­mises the feel­ing of an ideal lo­ca­tion.

“Ravine Road pro­vides 180 un­in­ter­rupted sea views. Its lo­ca­tion is some­what sep­a­rated from the hus­tle and bus­tle of Vic­to­ria Road on the beach front and it is eas­ily ac­ces­si­ble to other roads on the At­lantic seaboard.

“Ravine Road is with­out a doubt one of the most ex­clu­sive ar­eas on the At­lantic seaboard, rank­ing with the ever-pop­u­lar Net­tle­ton Road and Ocean View Drive,” he says.

Cur­rently on his books is a fivebed­room, five-bath­room Bantry Bay home. He de­scribes it as a villa of grand pro­por­tions that has suf­fi­cient ac­com­mo­da­tion for a large fam­ily and has a sub­stan­tial lev­elled gar­den.

He says that aside from be­ing well po­si­tioned in a quiet cul-de­sac, it is rare to have such a big gar­den area in Bantry Bay.

The liv­ing ar­eas in­clude a TV room, an of­fice, a de­signer kitchen with in­te­grated ap­pli­ances, and a sun-filled li­brary that leads out to wa­ter fea­tures in the court­yard, and a sep­a­rate laun­dry.

Other fea­tures fea­tured in the prop­erty in­clude an el­e­vated rose gar­den with Jacuzzi and pool, and four cov­ered en­ter­tain­ment pa­tios.

There is a sep­a­rate flat­let for staff, and a guard house.

Com­ment­ing on the mar­ket in gen­eral, Co­hen says that it is very tough at the moment.

“The mar­ket seems to have lev­elled out, and has come down 10% to 15% across the board. The ar­eas I work in are not as af­fected, since moneyed peo­ple tend to be able to hold on to their prop­er­ties bet­ter than those who are mort­gaged to the hilt, al­though there have been a few sales-in-ex­e­cu­tion in my area.”

It makes sense then that fol­low­ing the global eco­nomic cri­sis sales vol­umes in Bantry Bay have de­creased.

“Buy­ers in the Cape Town mar­ket have be­gun to fol­low a stan­dard of ex­treme specifics with re­gard to the prop­erty they are search­ing for. Fur­ther­more, the ex­pec­ta­tions and re­al­i­ties of what is ac­tual mar­ket-re­lated or mar­ket value is some­what ex­ag­ger­ated.

“It is how­ever al­ways ap­par­ent that in­ter­na­tional buy­ers, as well as the lo­cal buy­ers who were largely un­af­fected by the eco­nomic cri­sis, con­tinue to pur­chase prop­er­ties in Cape Town,” says Co­hen.

Knowl­edge Fac­tory’s SAPTG statis­tics in­di­cate that in the 2010 pe­riod, 25 full-ti­tle prop­er­ties have been trans­ferred, which is only four less than recorded in the boom year of 2005.

With a me­dian house-price value of R7,14m for full-ti­tle homes dur­ing the this pe­riod, it is clear that in­vest­ments here have re­tained their value.

Fur­ther­more, Knowl­edge Fac­tory’s SAPTG fig­ures in­di­cate a 46% ap­pre­ci­a­tion for full-ti­tle homes over the past three years, with the five-year trend re­flect­ing a 124% growth.

Co­hen says he has seen a new trend de­vel­op­ing in Bantry Bay and Fresnaye, with more younger buy­ers in their late twen­ties to late thir­ties search­ing for their first fam­ily home in these ar­eas.

He says that over the past year he has also ex­pe­ri­enced an in­crease in buy­ers search­ing for plots or knock-downs, as they pre­fer to start afresh with their own cre­ative con­cepts rather than spend­ing a for­tune on ren­o­vat­ing an old house.

Prices in Bantry Bay start at about R8m to R10m for a one or two-bed­room apart­ment, and range up to be­tween R20m and R100m in Bantry Bay, Fresnaye and Clifton.

Co­hen em­pha­sises the im­por­tance of spa­tial flow for buy­ers who are look­ing to pur­chase prop­erty in these ar­eas.

“Dis­jointed and com­part­men­talised prop­er­ties are a thing of the past. Any such prop­erty be­comes an im­me­di­ate de­ter­rent for a prospec­tive buyer, not to men­tion a mas­sive headache for the buyer’s ar­chi­tect. Prop­er­ties oc­cu­py­ing a large stand, or that are con­fig­ured over mul­ti­ple lev­els, gen­er­ally re­quire an in­side el­e­va­tor, which seems to be the gen­eral trend.”

Our fea­tured home was orig­i­nally built in the early 1900s, but was re­cently com­pletely ren­o­vated with ar­chi­tec­tural in­put pro­vided by Mark Zuck­er­man, of Zuck­er­man Sachs.

The ren­o­va­tion project, which took two years to com­plete, in­cluded a com­plete over­haul of all elec­tric­ity, plumb­ing and the kitchen and bath­rooms, among other ar­eas.

This has re­sulted in a home with a won­der­ful old-world charm but that is fit­ted with all the mod­ern ameni­ties.

The owner’s favourite fea­tures in­clude the back pool and Jacuzzi be­cause of the pri­vacy they af­ford, along with the lift with di­rect easy ac­cess, the views on all lev­els and es­pe­cially the deep-set bal­conies and the amaz­ing sun­sets. Price: R29,95m Con­tact: Se­eff Prop­er­ties Lance Co­hen 082 416 6103 Of­fice 021 434 9175

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